FTSE 100 still dragging its heels

On Friday the FTSE 100 was the standout underperforming major European index. The FTSE 100 fell back to close the week below 7,600, ending the session 0.30% lower, at 7,572. The low seen prior to that close was set at 7,557. The continued struggle of the index to make progress, even as records have been broken in the US and Germany most recently speaks volumes of the issues facing the UK markets. In brief those centre on the current UK interest rate outlook, over-burdening  UK regulation on listings and accounting and better gains seen elsewhere. There is no doubt that the FTSE 100 is cheap by all measures, but the lack of appetite for UK stocks is something that has continued to force allocators to sunnier climbs for a long time now. That said, perhaps one day it might all change, but not yet it seems. The FTSE 100 is just now priced to reopen at around 7,585